Archive · 31 Jul 2026
Oil Futures Rise on US Airstrikes Over Iran
Oil prices went up after the United States launched airstrikes on Iran.
This made people worry that oil might not get to the market as easily.
Because of that, traders bought more oil contracts, which are like promises to buy oil later.
The price of Brent oil, a type of crude, went up to about $92 a barrel.
West Texas Intermediate oil also went up to about $85 a barrel.
In India, oil futures for August and September also rose.
The increase shows how quickly news can change oil prices around the world.
Brent crude futures for September rose nearly 2% to $92.33 per barrel on the Intercontinental Exchange.
WTI crude futures for September advanced about 1% to $85.03 per barrel on the New York Mercantile Exchange.
Indian crude futures for August delivery climbed 1.36% to Rs 8,224 per barrel on the MCX.
September contract on MCX rose 1% to Rs 7,973 per barrel.
Gains were driven by fresh US airstrikes on Iran, raising supply disruption concerns in West Asia.
- Who
- United States airstrikes on Iran
- What
- Rise in crude oil futures prices
- When
- Recent trading session
- Where
- Global markets, including India and U.S. exchanges
- Why
- Concerns over supply disruptions in West Asia
- Brent futures price
- $92.33 per barrel
- WTI futures price
- $85.03 per barrel
- Indian crude futures (August)
- Rs 8,224 per barrel
- Indian crude futures (September)
- Rs 7,973 per barrel
- Trigger event
- US airstrikes on Iran